17.02.2025 12:03
The Commercial Real Estate Price Index across Turkey increased by 7.3% in the fourth quarter of 2024 compared to the previous quarter, while it decreased in real terms by 6.2% compared to the same quarter of the previous year. Similar increases were observed in Istanbul, Ankara, and Izmir.
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The Commercial Real Estate Price Index (CREPI) increased by 7.3% in the fourth quarter of 2024 across Turkey compared to the previous quarter, while it decreased by 6.2% in real terms compared to the same quarter of the previous year.
The Central Bank of the Republic of Turkey announced the CREPI for the fourth quarter of last year. Accordingly, the CREPI increased by 7.3% in the fourth quarter of 2024 across Turkey compared to the previous quarter. While the CREPI increased by 37.6% in nominal terms compared to the same quarter of the previous year, it decreased by 6.2% in real terms.
SHOP PRICES INCREASED BY 28.4%
Across Turkey, the Shop Price Index, which increased by 7.7% in the fourth quarter of 2024 compared to the previous quarter, showed a nominal increase of 38.4% compared to the same quarter of the previous year, while it decreased by 5.6% in real terms. In the same quarter, the Office Price Index, which increased by 5% compared to the previous quarter, increased nominally by 33.6% compared to the same quarter of the previous year, while it decreased by 8.9% in real terms. When evaluating developments in the three major cities, the commercial real estate price indices of Istanbul, Ankara, and Izmir increased by 6.3%, 4.5%, and 7.6%, respectively, in the fourth quarter of 2024 compared to the previous quarter. In terms of index values compared to the same quarter of the previous year, there were increases of 28.4%, 41.7%, and 37.2% in Istanbul, Ankara, and Izmir, respectively.
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